For the second month in a row, existing home sales increased, signaling hope for a housing recovery. Previously owned homes sales increased 10% to a seasonally adjusted annual rate of 4.53 million units last month, up from a 4.12 million rate in August, according to the National Association of Realtors.
"A housing recovery is taking place," Lawrence Yun, NAR chief economist. "But the overall direction should be a gradual rising trend in home sales, with buyers responding to historically low mortgage interest rates and very favorable affordability conditions."
What signs of recovery are you seeing in your housing market?